There are a myriad of resources available for business owners to get advice; workshops, books, webinars, podcasts, events plus the thousands of free business plan templates that are available on the internet, so you’d think that every business had a plan, right? Wrong!
It’s unfathomable as to why so few do in the current climate. In fact, only 25% of small businesses have a plan according to regular surveys.
That’s astonishing when you think about it, three quarters of small businesses who’re happily, or otherwise, ‘making it up as they’re going along’; managing (if you can call it that) their business passively, not proactively.
About the 25%
There’s no guarantee that all of the 25% are getting it right!
The vast majority of written business plans have the weight and readable appeal of a university thesis, most often constructed to help gain finance from a bank or investor. I can pretty much guarantee that nobody has read the whole thing other than the author and even the financiers have only gone as far as the executive summary and cashflow forecast!